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Singapore Announces Stablecoin Rules, MAS to Label Regulated Tokens
16.8.2023
The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. Singapore...
Bank of America Assesses Significance of Paypal’s USD Stablecoin and Fednow System
16.8.2023
Bank of America has provided its analysis of Paypal’s U.S. dollar stablecoin and the Fednow payments system. The bank does not expect the widespread adoption of PYUSD to occur in the near future, noting that the introduction of Paypal’s stablecoin will not lead to “accelerated...
From Crypto Custodian to Court: Prime Trust Files for Bankruptcy Protection
15.8.2023
In the wake of financial upheavals and regulatory hurdles, Prime Trust, a digital currency custodian, has formally sought Chapter 11 bankruptcy protection. This move closely follows the appointment of John Guedry as the company’s overseer, bolstered by a designated committee to steer...
Singapore's Central Bank Releases Stablecoin Regulatory Framework
15.8.2023
Stablecoins must hold minimum base capital 1 million Singapore dollars ($740,000) and provide redemption within no more than five business days of a request
Singapore’s Central Bank Releases Regulatory Framework for Stablecoins
15.8.2023
The Monetary Authority of Singapore (MAS), the city-state’s de-facto central bank, announced its revised regulatory framework for stablecoins, aimed to “ensure a high degree of value stability for stablecoins regulated in Singapore.”...
Read More: Singapore’s Central Bank Releases Regulatory...
Singapore central bank releases regulatory framework for stablecoins
15.8.2023
The framework outlines requirements for stablecoin issuers to meet to be deemed as regulated by the Monetary Authority of Singapore
Bitcoin Price Prediction: Former SEC Insider Voices Concerns on BTC ETF Amidst Regulatory Gridlock
14.8.2023
As the world of cryptocurrency continues its volatile dance, the BTC/USD pair is currently witnessing a marginal increase, showing gains of nearly 0.10% and trading at a noteworthy $29,442 as of Monday.
Amid this backdrop, recent revelations have stirred the crypto community. A former...
French Regulator Revises Crypto Rules to Align With EU’s MiCA Law
13.8.2023
France’s financial market regulator said it’s adjusting the rules for crypto companies in line with Europe’s new regulatory framework. The changes, which will enter into force next year, seek to enhance registration requirements for businesses offering certain services for digital assets like...
Former SEC Official Warns ‘Crypto Regulatory Onslaught Will Never End’
13.8.2023
The U.S. Securities and Exchange Commission’s former head of internet enforcement has warned that “crypto regulatory onslaught will never end.” He claimed that cryptocurrency trading platforms, like Binance and Coinbase, are simply playing “a short game of regulatory...
Custodia Bank Goes Live: Bridging Digital Assets With US Dollar Payments
12.8.2023
Custodia Bank, the financial institution that aims to bridge digital assets with the U.S. dollar payment system, is now live. Last month, Custodia started serving external business customers in select U.S. states, offering U.S. dollar deposits and government money market fund services, with bitcoin...
Worldcoin Regulatory Scrutiny Grows as Argentina Opens Investigation
10.8.2023
The investigation began after numerous data collections in five major jurisdictions of the country, the Argentinian Agency for Access to Public Information said
France Amends Crypto Regulatory Framework In Line With MiCA Licensing Rules
10.8.2023
France’s financial regulator Autorité des Marchés Financiers (AMF) has announced key amendments to its digital asset regulatory regime in light of the Market in Crypto Asset (MiCA) regulation.
The new amendments will come into effect from Jan 1 2024 and would affect both its General Regulation...
Congresswoman Maxine Waters Criticizes PayPal's Entry into Dollar-Pegged Stablecoin Arena Without Federal Regulatory Approval
10.8.2023
On Wednesday, Democratic Congresswoman Maxine Waters (D-CA) criticized PayPal's launch of its new dollar-backed stablecoin, PYUSD, as she believed the company should have waited for federal regulatory approval before proceeding.
"I am deeply concerned that PayPal has chosen to launch...
Bitstamp Exchange to Suspend Trading of Several Popular Altcoins Due to US Regulatory Concerns – What Coins are Included?
9.8.2023
In a blog post released on August 8, Bitstamp, the oldest cryptocurrency exchange, declared its intention to "permanently" halt trading of certain altcoins for its users based in the United States, starting August 29, 2023.
The suspended assets include Axie Infinity (AXS), Chiliz (CHZ)...
Bitstamp Delists AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for US Customers
9.8.2023
Trading will soon be halted for several popular cryptocurrencies on the Bitstamp exchange for users in the United States. Starting August 29, 2023, the exchange will suspend trading for AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for U.S. customers, canceling all existing orders for those assets....
House Financial Services Committee Advances Clarity for Payment Stablecoins Act
9.8.2023
On July 27, 2023, The U.S. House Financial Services Committee advanced a stablecoin-focused bill for the first time. The Clarity for Payment Stablecoins Act of 2023 would establish a federal regulatory framework for stablecoins with the U.S. Federal Reserve playing a pivotal role. The bill would...
A Comprehensive Look at the New Paypal Stablecoin, Its Control Dynamics, and ‘Freeze’ Option Trending on Social Media
8.8.2023
At the time of writing, the official Paypal stablecoin PYUSD smart contract has been unveiled, and as it stands, the maximum aggregate supply amounts to 26,905,005.66 PYUSD. In spite of the existence of more than 26 million Paypal stablecoins, the contract continues to retain a substantial 92.91%...
Binance Labs Maintains Dominance in Crypto Funding Despite Regulatory Challenges
8.8.2023
Binance Labs, the venture capital arm of the largest cryptocurrency exchange, Binance, remains an active investor in the crypto space despite its parent company facing regulatory challenges and potential fraud charges.
Last week, Binance Labs announced four investments through its Most Valuable...
Payments Giant Paypal Launches Dollar-Backed Stablecoin PYUSD
7.8.2023
Paypal has introduced its own stablecoin, representing the first venture of its kind by a leading financial firm. Initially reported by Bloomberg, the launch could notably accelerate the slow integration of cryptocurrencies for payment purposes. A New Era for Paypal: Introduction of PYUSD...
G20 President India Proposes ‘Action Points’ for Implementing Global Crypto Rules
7.8.2023
The Indian Presidency of G20 has put forward proposals for a roadmap to introducing a global regulatory framework for crypto assets. India believes a more coordinated policy will be needed to enforce international standards in the field and adequately minimize associated risks. India’s...